Local News
CariCRIS Reaffirms Govt’s High Rating, But Downgrades HMB, TTMB
Rating agency Caribbean Information and Credit Rating Services (CariCRIS) has reaffirmed the sovereign issuer credit ratings assigned to the Government of The Republic of Trinidad and Tobago (GORTT) a CariAA (foreign and local currency ratings) on its regional rating scale.
Energy Chamber Warns Of Shutdown’s Impact On Jobs, Exports, Revenue
Nutrien’s decision to indefinitely shut down its nitrogen operations at Point Lisas is expected to have far-reaching economic consequences, with the Energy Chamber of Trinidad and Tobago warning of losses in jobs, export earnings, foreign exchange and government revenue.
After Nearly A Year Of Lying Idle, Nutrien Announces Indefinite Shutdown
Approximately 350 employees at Nutrien’s Point Lisas nitrogen complex face retrenchment as the Canadian fertiliser giant moves to indefinitely shut down its Trinidad operations.
Prestige Profits Drop On Forex Hit
Increased costs as result of National Insurance contribution and foreign exchange challenges have once again taken a toll on Prestige Holdings Ltd’s profits, according to its financial statements for the first nine months of the financial year 2026,
NGL Records An After Tax Profit Of $32.06M
For the three months ended 31 March 2026, Trinidad and Tobago NGL Limited (“TTNGL”/“Company”) recorded an after-tax profit of TT$32.1 million. This represents a marginal TT$0.3 million improvement over the comparable period in 2025, when profit after tax of TT$31.8 million was recorded. Earnings per share for the quarter were TT$0.21, equaling the performance for the corresponding prior year period.
T&T Growth Moderating, Says Central Bank
The Central Bank’s May 2026 Monetary Policy Report suggests that the T&T economy is entering a period of moderation as higher interest rates, tighter financial conditions and economic uncertainty begin to influence borrowing and spending decisions.
Moonilal Defends Venezuela Energy Engagement
Energy Minister Dr Roodal Moonilal has dismissed Opposition criticism of the Government’s handling of energy negotiations with Venezuela, insisting that active discussions remain ongoing and that Trinidad and Tobago continues to work closely with major energy stakeholders to advance cross border gas projects.
Higher Fines; No New Taxes
The Finance Bill 2026 was passed in the Parliament yesterday with an assurance from Finance Minister Davendranath Tancoo that the legislation does not impose a burden of taxes on citizens.
NGC Completes 100% Of Downstream Gas Contract Renewals
The National Gas Company of Trinidad and Tobago Ltd (NGC) says it has now renewed 100% of its downstream gas contracts following the execution of a new agreement with Methanol Holdings (Trinidad) Ltd, the largest methanol producer on the Point Lisas Industrial Estate.
Regional News
Strong Fiscal Management, Economic Discipline Restored Confidence In Guyana
Reflecting on Guyana’s journey from severe debt distress to a stronger economic position, President Dr. Irfaan Ali, on Monday, credited successive People’s Progressive Party/Civic’s (PPP/C) governments in building reforms, debt relief and enhancing economic growth.
GCCI Welcomes Launch Of Guyana Development Bank
The Georgetown Chamber of Commerce and Industry (GCCI) has congratulated the Government of Guyana on the operationalisation of the Guyana Development Bank (GDB), which commenced operations yesterday.
CJ Holds Talks With Privy Council On Regional Access To Justice
Chief Justice Ronnie Boodoosingh met with senior members of the United Kingdom judiciary and the Judicial Committee of the Privy Council during a recent visit to London, focusing on strengthening cooperation and improving access to justice for court users in the Caribbean.
Fujitsu Pushes AI As Growth Tool For Jamaica
Artificial intelligence could help Jamaica cut bureaucratic delays, speed disaster recovery, and expand tourism services, Fujitsu executives said during a regional technology conference in St Ann last week.
Barita Bets Big After BOJ Approval
Barita Financial Group Limited has received Bank of Jamaica (BOJ) approval to operate as a financial holding company, completing a major restructuring that positions the organisation for deeper expansion into digital banking and integrated financial services as competition intensifies across Jamaica’s financial sector.
Guyana, Barbados Eye New Investment Fund
Guyana and Barbados are moving to establish a new regional investment fund aimed at allowing ordinary citizens to invest in major development projects, as both countries prepare to officially roll out digital ID card travel from July 1.
BP Signs MoU With Venezuela For Loran Field
BP and the Venezuelan government signed a memorandum of understanding (MoU) for the exploration of natural gas in the Loran offshore area, international news agencies reported yesterday.
Guyana Exploring Mass Transit System To Complement Road Network
President Dr. Irfaan Ali has signalled a major shift in the country’s transportation strategy, stating that the government is actively examining the development of a modern mass transit system to complement the rapidly expanding road network.
Region Still Suffering From COVID Impact, Says OECD, IDB Report
Below-average labour productivity, increasing debt ratios following the COVID-19 pandemic and limited foreign direct investment have severely impacted growth in the Caribbean.
International News
Google Enters Massive 3.6-GW Power Deal With Constellation Energy
Google has contracted for 3,590 megawatts of power from Constellation Energy in the US’ largest power grid, with new nuclear energy accounting for about a quarter of that supply, the companies said on Tuesday.
AMD CEO Sees Very High Chip Demand, Urges AI Firms To Cooperate
Advanced Micro Devices Inc.’s Lisa Su predicted “very high” chip demand continuing for the next few years, even as the industry faces challenges such as concerns over AI’s safety.
Oil Slips As Mideast Exports, G7 Stockpile Ease Supply Concerns
Oil dropped over 2% on Tuesday as rising Middle Eastern crude exports and a G7 emergency stockpile release eased supply concerns, though lingering security risks in the region capped further losses.
BP’s Ousted Chair Says He Was Fired Without Explanation
Former BP Plc Chairman Albert Manifold says he was fired without warning or explanation and will challenge the company’s version of events, deepening the turmoil around the UK oil major’s latest leadership change.
Amazon Invests $20 Billion In UK In 2025
Amazon invested over £15 billion ($20 billion) in Britain in 2025, keeping the e-commerce giant on track to deliver its planned £40 billion investment in the three years to the end of 2027, it said on Wednesday.
Samsung Staff Accept Wage Deal That Averts Chip Plant Strike
Samsung Electronics Co. union members voted in favor of a compensation deal that will hand chip workers an average bonus of about $340,000, staving off a strike that threatened to disrupt global chip supply.
Brent Oil Is Stressed, Not Broken, By War, Morgan Stanley Says
The growing stress in the oil market triggered by the Middle East war is showing up in huge premiums for prompt real-world barrels, with the wider Brent complex working as it should, according to Morgan Stanley.
Stocks Drop And Oil Climbs Before Iran Deadline
Stocks fell and oil advanced in the countdown to US President Donald Trump’s Tuesday evening deadline for Iran to agree to a ceasefire or face escalation.
Adobe Shares Drop After CEO Exit Adds To AI-Disruption Concerns
Adobe’s shares plunged 9% in premarket trading on Friday after the Photoshop maker said CEO Shantanu Narayen would step down after 18 years at the helm, unsettling investors already wary of AI-driven disruptions to the design software market.
Reports
US Rate Watch SEPT2026
On September 16, 2026, the Federal Open Market Committee (FOMC) raised the federal funds target range by 25 basis points to 3.75% – 4.00%. This decision was aligned with the Federal Reserve’s dual mandate of achieving maximum employment and price stability.
Sheppard Joins the Eastern Caribbean Securities Exchange as Member Broker-Dealer
Sheppard Investment Services Limited has been admitted as a licensed member Broker-Dealer of the Eastern Caribbean Securities Exchange (ECSE), further strengthening Sheppard’s presence and capabilities within the Eastern Caribbean financial market. Based in Saint Lucia, Sheppard will now operate as one of nine licensed ECSE member Broker-Dealers serving the Eastern Caribbean Securities Market. As an ECSE Member Broker-Dealer, Sheppard is authorised to facilitate the purchase and sale of securities listed on the ECSE, providing clients with greater access to investment opportunities across the Eastern Caribbean Currency Union (ECCU). The admission represents an important step in Sheppard’s continued regional growth and its commitment to expanding access to professional investment services and financial solutions throughout the Caribbean. In announcing the ECSE’s newest members, Stewart Haynes, Chief Executive Officer of the ECSE, welcomed Sheppard to the exchange, noting that the addition of new market intermediaries strengthens the ECSE’s distribution network and supports its goal of creating a more accessible, inclusive and resilient regional capital market. The ECSE plays a central role in the development of the Eastern Caribbean capital market, providing a regulated marketplace through which investors can access securities while businesses and governments can raise capital to support growth and development. For Sheppard, membership in the ECSE creates further opportunities to connect clients with regional investment markets while supporting the continued development of the Caribbean’s financial sector. About Sheppard Investment Services Limited Sheppard Investment Services Limited provides investment and wealth management solutions to clients located in Saint Lucia and the wider Caribbean, supported by the experience and capabilities of the Sheppard Group.
Economic Outlook – AUG 2026
Global growth is expected to remain moderate but uneven across regions in 2026 as geopolitical tensions, elevated uncertainty, and tighter financial conditions weigh on activity. Trade and investment activity are also likely to remain subdued amid continued volatility and uncertainty, with economies benefitting from technology investment and those exposed to energy shocks the most impacted. Inflation is expected to remain above target for longer in many economies as higher energy and commodity prices have stalled the disinflation process. Further to this, renewed U.S.-Iran tensions have increased upside risks to inflation and downside growth risks, although continued investment and a normalization in trade activity could provide some support. We remain attentive to developments that could affect the balance of risks to the outlook.
Earnings Update – AUG 2026
August earnings remained mixed across sectors amid ongoing operational and economic challenges. Among the banking and financials First Citizens Group Financial Holdings (FCGFH) and NCB Financial Group (NCBFG) underperformed relative to their peers, reporting declines in profit for the period. First Citizens’ results were weighed down by rising funding costs, tightening liquidity conditions and the commercial asset levy, despite resilience in its core operations, while NCB’s earnings were impacted by lower gains on foreign currency and investment activities as well as the absence of one-off gains recorded the year prior. ANSA Merchant Bank Limited (AMBL), meanwhile, recorded double digit growth in profit, with pre-tax income rising 32%, driven primarily by growth in the Banking and Wealth Management segment. JMMB Group Limited’s (JMMBGL) earnings were also lifted, having benefitted from an increased share of profit from associates, namely Sagicor Financial Company.
Local Fixed Income Report – July 2026
The fixed income market in H1 2026 was characterized by shifting yield curve dynamics, resilient investor demand, and muted primary market activity. Government, quasi-government and corporate issuance remained concentrated in a relatively small number of transactions, while lower system liquidity contributed to higher yields across the curve year-on-year. Excess reserves declined to TT$4.25 billion from TT$5.33 billion at the start of the year, reflecting tighter liquidity conditions.
Local Equity Report – July 2026
S&P Reaffirms T&T Rating, Outlook Unchanged
In July 2026, S&P Global Ratings reaffirmed Trinidad and Tobago’s BBB-/A-3 sovereign credit ratings while maintaining its negative outlook. The country’s investment-grade status was preserved but the rating agency signalled that credit risks remain elevated.
US Rate Watch – July 2026
On July 29, 2026, the Federal Open Market Committee (FOMC) kept the federal funds rate unchanged at a target range of 3.50% – 3.75%, a decision that was largely anticipated by markets. The move reflected a solid pace of economic activity despite heightened uncertainty, supported by strong productivity growth, capital investment, and a relatively stable labor market.
Portfolio Snapshot – July 2026
Global macroeconomic conditions were uneven in Q2 2026. Growth expectations were moderate, inflation persisted and monetary policy remained relatively restrictive. However, easing geopolitical concerns created a more constructive backdrop, helping to improve market sentiment, even as underlying conditions remained fragile.